Teacher Retirement System of Texas Purchases 3,952 Shares of PPG Industries, Inc. (NYSE:PPG)

Teacher Retirement System of Texas boosted its position in shares of PPG Industries, Inc. (NYSE:PPG) by 5.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 76,498 shares of the specialty chemicals company’s stock after acquiring an additional 3,952 shares during the period. Teacher Retirement System of Texas’ holdings in PPG Industries were worth $10,940,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of PPG. Moors & Cabot Inc. increased its stake in PPG Industries by 135.6% during the third quarter. Moors & Cabot Inc. now owns 25,000 shares of the specialty chemicals company’s stock valued at $27,000 after acquiring an additional 14,390 shares during the period. Evolution Wealth Advisors LLC increased its stake in PPG Industries by 311.1% during the third quarter. Evolution Wealth Advisors LLC now owns 222 shares of the specialty chemicals company’s stock valued at $32,000 after acquiring an additional 168 shares during the period. KB Financial Partners LLC grew its stake in shares of PPG Industries by 131.9% in the 2nd quarter. KB Financial Partners LLC now owns 211 shares of the specialty chemicals company’s stock valued at $36,000 after purchasing an additional 120 shares during the period. Tompkins Financial Corp bought a new stake in shares of PPG Industries in the 3rd quarter valued at approximately $39,000. Finally, Arlington Partners LLC bought a new stake in shares of PPG Industries in the 3rd quarter valued at approximately $47,000. Hedge funds and other institutional investors own 78.05% of the company’s stock.

Shares of PPG stock opened at $165.00 on Friday. The firm’s 50 day moving average price is $164.38 and its two-hundred day moving average price is $161.33. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.92 and a current ratio of 1.34. PPG Industries, Inc. has a 52-week low of $132.10 and a 52-week high of $182.97. The stock has a market cap of $39.17 billion, a PE ratio of 27.73, a PEG ratio of 1.35 and a beta of 1.18.

PPG Industries (NYSE:PPG) last released its quarterly earnings data on Tuesday, October 19th. The specialty chemicals company reported $1.69 EPS for the quarter, beating analysts’ consensus estimates of $1.59 by $0.10. PPG Industries had a return on equity of 27.62% and a net margin of 8.71%. The business had revenue of $4.37 billion during the quarter, compared to the consensus estimate of $4.25 billion. During the same quarter in the prior year, the company posted $1.93 earnings per share. The firm’s revenue was up 18.6% on a year-over-year basis. As a group, sell-side analysts predict that PPG Industries, Inc. will post 6.7 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 10th. Investors of record on Wednesday, November 10th were paid a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 1.43%. The ex-dividend date was Tuesday, November 9th. PPG Industries’s payout ratio is 39.66%.

Several research firms have recently weighed in on PPG. Evercore ISI upgraded PPG Industries from an “in-line” rating to an “outperform” rating and set a $190.00 price objective on the stock in a research note on Tuesday, December 7th. Bank of America upped their price objective on PPG Industries from $185.00 to $188.00 and gave the company a “buy” rating in a research note on Friday, October 22nd. Citigroup upped their price objective on PPG Industries from $161.00 to $169.00 and gave the company a “neutral” rating in a research note on Friday, October 22nd. Wells Fargo & Company upped their price objective on PPG Industries from $180.00 to $183.00 and gave the company an “overweight” rating in a research note on Friday, October 22nd. Finally, Mizuho upped their price objective on PPG Industries from $180.00 to $184.00 and gave the company a “buy” rating in a research note on Friday, October 22nd. Seven research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, PPG Industries has a consensus rating of “Buy” and a consensus target price of $178.52.

PPG Industries Profile

PPG Industries, Inc engages in the manufacture and distribution of coatings, specialty materials, and glass products. It operates through Performance Coatings and Industrial Coatings segments. The Performance Coatings segment comprises of the refinish, aerospace, protective and marine, and architectural coatings businesses.

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Institutional Ownership by Quarter for PPG Industries (NYSE:PPG)

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